Scotiabank, a registered trademark of Bank of Nova Scotia, sells its personal chequing accounts as Day-to-Day Banking: the Basic Banking Account, the Basic Plus Bank Account, the Preferred Package and the Ultimate Package, plus a Preferred Package for Students and Youth. The table shows each package’s monthly fee, included transactions and Interac e-Transfer terms, with fees as of September 2026, the edition of Scotiabank’s Day-to-Day Banking Companion Booklet they come from. Service charges outside the monthly fee, from returned items to ABM withdrawals, are under Scotiabank fees.
Scotiabank chequing accounts and monthly fees
Each row is one package, its fee shown with the conditions Scotiabank attaches to it.
| Account | Monthly fee | Transactions | Interac e-Transfer |
|---|---|---|---|
| Basic Banking Account | $3.95 a month, or $0 for Indigenous Peoples, Disability Tax Credit recipients, RDSP beneficiaries and recipients of select provincial or territorial social assistance payments, or $0 with Seniors' pricing (clients 60 or older) Waivers and overdraft | 18 free debit or Interac e-Transfer transactions a month (including 4 teller-assisted); $1.25 for each additional debit transaction | No additional fee for each Interac e-Transfer; sending one counts toward the debit transactions included each month |
| Basic Plus Bank Account | $11.95 a month, or $0 when you hold $3,000 or more in the account every day for the entire month; Seniors' pricing $7.95 a month Waivers and overdraft | Up to 25 free debit or Interac e-Transfer transactions a month; $1.25 for each additional debit transaction | No additional fee for each Interac e-Transfer; sending one counts toward the debit transactions included each month |
| Preferred Package | $16.95 a month, or $0 when you hold $4,000 or more in the account every day for the entire month, or $0 for up to a year with recurring payments on a new or renewed eligible Scotiabank mortgage; Seniors' pricing $12.95 a month Waivers and overdraft | Unlimited debit and Interac e-Transfer transactions | No additional fee for each Interac e-Transfer; unlimited transactions are included |
| Ultimate Package | $30.95 a month, or $0 when you hold $6,000 or more in the account, or a Total Relationship Balance of $100,000 across all eligible accounts, every day for the entire month, or $0 for up to a year with recurring payments on a new or renewed eligible Scotiabank mortgage; Seniors' pricing $23.95 a month Waivers and overdraft | Unlimited debit and Interac e-Transfer transactions | No additional fee for each Interac e-Transfer; unlimited transactions are included |
| Preferred Package for Students and Youth | $0 a month; clients 25 or older must be a domestic or international student currently enrolled in a full time post-secondary program in Canada or the U.S. | Unlimited debit and Interac e-Transfer transactions | – |
A dash means this table shows no figure for that account.
Sources: Scotiabank's chequing accounts page; Day-to-Day Banking Companion Booklet, September 2026 (PDF).
Fees as of September 2026. Checked against Scotiabank's pages on October 20, 2026.
Sending an Interac e-Transfer costs nothing extra, but on the Basic Banking Account and the Basic Plus Bank Account each one sent uses up one of the debit transactions included in the month.
When does Scotiabank waive the monthly fee?
On the Basic Plus Bank Account, the Preferred Package and the Ultimate Package, the fee is waived for a month in which the account holds a set balance every day. The Ultimate Package can also qualify through a Total Relationship Balance, the daily total across eligible Scotiabank chequing and savings accounts, GICs and mutual funds. Recurring payments to a new or renewed eligible Scotiabank mortgage remove the fee for up to a year, on the packages whose Monthly fee cell says so. Clients past a set age get Scotiabank’s seniors’ discount on the monthly fee automatically; the expanders give the age and each package’s price. The Basic Banking Account’s fee is waived for the groups listed in its expander, each arranged at a Scotiabank branch, with proof of eligibility where Scotiabank’s booklet asks for it. Balances and prices are in the Monthly fee column above; each expander below repeats its package’s fee and gives its waiver and overdraft terms where Scotiabank states them.
Basic Banking Account
Monthly fee: $3.95 a month, or $0 for Indigenous Peoples, Disability Tax Credit recipients, RDSP beneficiaries and recipients of select provincial or territorial social assistance payments, or $0 with Seniors' pricing (clients 60 or older)
How the fee is waived or rebated: The fee is waived for Indigenous Peoples, recipients of the disability tax credit, beneficiaries of a Registered Disability Savings Plan and Canadians receiving social assistance payments from select provincial or territorial programs, arranged at a Scotiabank branch, with proof of eligibility where Scotiabank asks for it (disability tax credit, Registered Disability Savings Plan and social assistance); Seniors' pricing ($0 a month) for clients 60 or older
Overdraft protection on this account: Optional Overdraft Protection (credit approval required): Pay-per-use plan, $5.00 each time an overdraft is created or increased (not available in Quebec), or Monthly plan, $5.00 a month; 21% a year interest on overdrawn balances
Source: Scotiabank's page
Basic Plus Bank Account
Monthly fee: $11.95 a month, or $0 when you hold $3,000 or more in the account every day for the entire month; Seniors' pricing $7.95 a month
How the fee is waived or rebated: Hold $3,000 or more in the account every day for the entire month; Seniors' pricing of $7.95 a month for clients 60 or older
Overdraft protection on this account: Optional Overdraft Protection (credit approval required): Pay-per-use plan, $5.00 each time an overdraft is created or increased (not available in Quebec), or Monthly plan, $5.00 a month; 21% a year interest on overdrawn balances
Source: Scotiabank's page
Preferred Package
Monthly fee: $16.95 a month, or $0 when you hold $4,000 or more in the account every day for the entire month, or $0 for up to a year with recurring payments on a new or renewed eligible Scotiabank mortgage; Seniors' pricing $12.95 a month
How the fee is waived or rebated: Hold $4,000 or more in the account every day for the entire month; or pay no monthly account fee for up to a year by setting recurring payments to a new or renewed eligible Scotiabank mortgage; Seniors' pricing of $12.95 a month for clients 60 or older
Overdraft protection on this account: Optional Overdraft Protection (credit approval required): Pay-per-use plan, $5.00 each time an overdraft is created or increased (not available in Quebec), or Monthly plan, $5.00 a month; 21% a year interest on overdrawn balances
Source: Scotiabank's page
Ultimate Package
Monthly fee: $30.95 a month, or $0 when you hold $6,000 or more in the account, or a Total Relationship Balance of $100,000 across all eligible accounts, every day for the entire month, or $0 for up to a year with recurring payments on a new or renewed eligible Scotiabank mortgage; Seniors' pricing $23.95 a month
How the fee is waived or rebated: Hold $6,000 or more in the account every day for the entire month; or a Total Relationship Balance of $100,000 or more across eligible Scotiabank chequing accounts, savings accounts, GICs and mutual funds (the fee is waived, or charged and then rebated within the first 10 business days of the following month); or pay no monthly account fee for up to a year by setting recurring payments to a new or renewed eligible Scotiabank mortgage; Seniors' pricing of $23.95 a month for clients 60 or older
Overdraft protection on this account: Optional Overdraft Protection (credit approval required): the Overdraft Protection fee is automatically waived on the Ultimate Package; 21% a year interest on overdrawn balances remains payable
Source: Scotiabank's page
Scotiabank accounts for students, seniors and newcomers
- Students and youth: the Preferred Package for Students and Youth is for students and for clients under a set age, and other banks’ accounts are on student bank accounts and, for younger children, children’s bank accounts.
- Seniors: Scotiabank’s seniors’ discount shows as Seniors’ pricing in the rows, and other banks’ offers for older clients are on senior bank accounts.
- Newcomers: bank accounts for newcomers.
Scotiabank fees: NSF, overdraft, ABM and other charges
The charges below come from Scotiabank’s booklet and pages, one row per service, with the source beside each.
| Fee | What Scotiabank charges | Source |
|---|---|---|
| Returned item (NSF) | $10.00 Applies to each presentment or re-presentment of the returned item; not charged if the difference between the account balance and the funds needed is $10 or less, or more than once within two business days per account | Scotiabank's fee document (PDF) |
| Overdraft protection | $5.00 (Pay-per-use Overdraft Protection Plan, charged the same day or within 2 business days each time an overdraft is created or increased; not available in Quebec) or $5.00/month (Monthly Overdraft Protection Plan, charged at the end of the statement cycle regardless of overdraft activity that month); both options automatically waived on Ultimate Package; Quebec clients who had Overdraft Protection before May 21, 2021 instead pay a $5.00 Modified Monthly Overdraft Protection fee if the account is overdrawn a day or more | Scotiabank's fee document (PDF) |
| Overdraft interest | 21% per year, calculated daily on the overdrawn balance and charged monthly | Scotiabank's fee document (PDF) |
| Going past the overdraft limit | $5.00 per payment from your account if you are overdrawn past your pre-authorized limit; without Overdraft Protection, a $5.00 handling fee for each item that places the account in overdraft and $5.00 for each payment while the overdraft balance is outstanding | Scotiabank's fee document (PDF) |
| Sending an Interac e-Transfer | No additional fee for each Interac e-Transfer; sending one counts toward the debit transactions included each month in the account | Scotiabank's fee document (PDF) |
| Cash from another bank's ATM | $2.00 (Interac network, Canada; Preferred Package gets 1 free/month then $2.00 each additional; Ultimate Package gets unlimited free); $3.00 (Visa*/PLUS* network, within Canada & U.S.); $5.00 (Visa*/PLUS* network, outside Canada & U.S.); Ultimate Package waives all three ABM access fees | Scotiabank's fee document (PDF) |
| Foreign currency debit transactions with the ScotiaCard with Visa Debit | A foreign currency transaction fee calculated as a 2.5% increase to the exchange rate and included in the converted Canadian dollar amount, on debit transactions at designated Direct Payment terminals outside Canada and Card Not Present transactions at authorized merchants outside Canada | Scotiabank's fee document (PDF) |
| Stop payment | $30.00 (assisted, via a branch or the Customer Contact Centre) or $0.00 (digital self-service, via ScotiaOnline or the mobile app) | Scotiabank's fee document (PDF) |
| Bank draft | $9.95 (Basic Banking, Basic Plus, and Preferred Package); free and unlimited Canadian/US dollar drafts on Ultimate Package | Scotiabank's fee document (PDF) |
| Paper statement | $2.25 a month on Basic Plus Bank Account, Preferred Package and Ultimate Package (free on the Basic Banking Account); free with paperless recordkeeping; $2.50 a month with cheque image return | Scotiabank's fee document (PDF) |
| Closing an account | $20.00, if the account is closed after 14 business days but within 90 days of opening | Scotiabank's fee document (PDF) |
| Transfer a Scotiabank account balance to another financial institution | $20.00 | Scotiabank's fee document (PDF) |
| Dormant account | $20.00/year (years 2-4 of inactivity), $30.00/year (years 5-8), $40.00/year (after the 9-year notice); does not apply to Money Master, Scotia Power Savings, Scotia Momentum Savings, or Scotiabank MomentumPLUS Savings accounts | Scotiabank's fee document (PDF) |
| Safety deposit box | $80.00 (small) to $450.00 (super large) annually, plus GST/HST/QST; Ultimate Package includes an $80.00 annual fee waiver (equivalent to a small box), limit one per account | Scotiabank's fee document (PDF) |
Scotiabank's fee document: Day-to-Day Banking Companion Booklet, September 2026 (PDF).
Fees as of September 2026. Checked against Scotiabank's pages between October 19, 2026 and October 20, 2026.
Where to go next for these charges:
- NSF fees and returned payments in general: when a cheque bounces; overdraft plans in general: overdraft protection.
- Scotiabank’s charges against other banks’: Canadian bank fees.
- Scotiabank wire fees: wire transfers; its draft fees beside other banks’: bank drafts and certified cheques.
- How much can be sent or withdrawn in a day: e-Transfer limits, ATM withdrawal limits.
Scotiabank savings and US-dollar accounts
Interest on the Scotia High Interest Savings Account (HISA) depends on the client’s Total Relationship Balance: its top regular rate is 2.20% (a Total Relationship Balance of $500,000 or more; nothing under $10,000), and the other levels and offers are in Scotiabank’s row of the savings rate table. For US dollars, Scotiabank lists the Scotia U.S. Dollar Daily Interest Account, covered on US-dollar accounts.
Opening an account and comparing banks
- Scotiabank’s transit and institution numbers and void cheques: Scotiabank routing numbers.
- Chequing accounts at several banks side by side: chequing account comparison; accounts with no monthly fee: no-fee chequing accounts.
- Getting started or moving over: how to open a bank account, switching banks.
- Scotiabank advertises sign-up offers on its chequing page, and bank account promotions explains how such offers work.
- For a company: business bank accounts.
- Scene+ points: Scene+ guide; Scotia iTRADE: Scotia iTRADE review.
- Other banks’ chequing accounts and fees: RBC, TD, BMO, CIBC, Manulife Bank.
Sources
The figures and rules on this page come from these sources, last checked against them on September 14, 2026. How we check facts.
- Scotiabank: Chequing accounts
- Scotiabank: Day to day banking companion booklet
- Scotiabank: Scotia high interest savings account
- Scotiabank: Savings Account Interest Rates | Scotiabank Canada